Sell @ $1.415
Extract of SGX Annc on 3-Nov on HPS short term lease renewal for 304,920 sqft expiring on 30-Nov-17,
HPS has committed to extend the lease in respect of an aggregate of 266,905 sf of space, as
follows:i. 93,195 sf for thirteen months commencing from 1 December 2017;
ii. 42,561 sf for five months commencing from 1 December 2017; and
iii. 131,149 sf for between two to three months commencing from 1 December 2017;based on terms which are substantially similar to those in the existing lease.
Mkt seems cheered by this annc. DPU will likely still be impacted negatively in the coming Qs but it does give FCOT more time to look for new tenants and the drop in DPU will be less abrupt (unless supported by higher Capital Payouts fm the Hotel site).
Decided to sell more first.